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Fleet Management Market worth $55.6 billion by 2028 – Exclusive Report by MarketsandMarkets™

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3 years ago

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Innovations in telematics, IoT, and AI will propel the Fleet Management Market in the future, bringing with them integration with mobility services, predictive analytics, and a sustainability-focused approach. Regulation adherence, cybersecurity, and personalisation will influence developing business models that prioritise data-driven judgement and effective fleet management.

CHICAGO, Feb. 13, 2024 /PRNewswire/ — The Fleet Management Market is expected to reach USD 55.6 billion by 2028 from USD 28.6 billion in 2023, at a Compound Annual Growth Rate (CAGR) of 14.2% during 2023–2028, according to a new report by MarketsandMarkets™. The fleet management industry is driven primarily by the increasing prevalence of automation technology. Companies are progressively incorporating automation into a broader range of operational aspects, particularly fleet management systems for maintenance reminders, dispatching, and route planning. Human resources are freed up by this adoption to concentrate on more strategically important work. The sector is seeing a transition towards automated processes, and automated fleet management jobs’ increased efficiency, lower operating overhead, and better decision-making capabilities are significant factors driving the market’s expansion.

 

Browse in-depth TOC on “Fleet Management Market”

394 – Tables
42 – Figures
324 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2018-2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Billion)

Segments Covered

By component (solution(operations management, vehicle maintenance and diagnostics, performance management, fleet analytics and reporting, compliance management, other solutions), services (professional services, managed services)), by fleet type (commercial fleets, passenger vehicles) vertical  (retail, transportation & logistics, healthcare & pharmaceuticals, construction, utilities, oil, gas and mining, government, other verticals) and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Geotab (Canada), Verizon Connect (US), Bridgestone Group (Japan), Trimble (US), Samsara (US), Wheels (US), Inseego (US), Solera Group (US), Verra Mobility (US), Teletrac Navman (US), Holman (US), Orbcomm (US), Mix Telematics (South Africa), Zebra Technologies (US), Motive (US), Chevin (UK), GPS Insight (US), Michelin (France), ClearpathGPS (US), Fleetcomplete (Canada), Gurtam (Belarus), Automile (US), VIA (Israel), Fleetroot (UAE), Ruptela (Lithuania), Freeway Fleet (UK).

 

By vertical, the transportation & logistics segment to hold the largest market size during the forecast period.

The escalating fuel costs have become a pivotal factor driving the adoption of advanced fleet management technologies to optimize fuel efficiency. Fleet managers increasingly invest in sophisticated route optimization systems that leverage real-time traffic data, historical route information, and predictive analytics to identify the most fuel-efficient vehicle paths. These systems consider traffic congestion, road conditions, and elevation changes to minimize fuel consumption. Moreover, integrating eco-driving technologies plays a crucial role in this scenario. These technologies, often facilitated by telematics and onboard sensors, provide real-time feedback to drivers on their driving behavior, encouraging fuel-efficient practices such as smooth acceleration, deceleration, and optimal speed maintenance. The synergy of route optimization and eco-driving not only reduces fuel consumption but also contributes to lower emissions, aligning with environmental sustainability goals. This technological approach not only addresses the immediate cost concerns associated with fuel but also positions fleet management systems as indispensable tools for achieving operational efficiency and environmental responsibility in the logistics and transportation sector.

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By solution, the performance management segment is expected to hold a higher growth rate during the forecast period.

Solutions for scalable performance management are essential for tackling the changing problems expanding fleets encounter. As fleets expand and undergo operational changes, these solutions provide a level of flexibility and adaptability that is crucial for seamless integration into evolving business operations. The scalability feature allows fleet managers to effortlessly accommodate an increasing number of vehicles, diverse assets, and a growing workforce. Whether expanding to new geographic locations, adjusting to fluctuating demand, or incorporating additional functionalities, scalable solutions ensure that the performance management system can readily grow alongside the fleet. This adaptability not only future-proofs the investment in technology but also facilitates a smooth transition during periods of change, ultimately contributing to sustained operational efficiency and optimized fleet performance in the face of evolving business landscapes.

Asia Pacific is expected to hold a higher growth rate during the forecast period.

Governments in Asian cities with high population densities invest heavily in sophisticated traffic control systems to deal with traffic bottlenecks and guarantee efficient traffic flow. In this urban setting, fleet management is essential since it increases the overall effectiveness of traffic control systems. Fleet management systems reduce traffic congestion and increase traffic flow by optimizing routes, minimizing idle times, and improving vehicle coordination via real-time data and analytics. Additionally, effective fleet management systems have become essential in the larger framework of commerce and cross-border transportation in the Asia Pacific area. They are critical to maintaining adherence to customs laws, enabling smooth logistical processes, and raising the general effectiveness of supply networks that span international borders. In these instances, the use of fleet management systems not only improves operational efficiency but also supports the larger regional objectives of trade facilitation and economic connection.

Top Key Companies in Fleet Management Market:

The major vendors covered in the Fleet Management Market are Geotab (Canada), Verizon Connect (US), Bridgestone Group (Japan), Trimble (US), Samsara (US), Wheels (US), Inseego (US), Solera Group (US), Verra Mobility (US), Teletrac Navman (US), Holman (US), Orbcomm (US), Mix Telematics (South Africa), Zebra Technologies (US), Motive (US), Chevin (UK), GPS Insight (US), Michelin (France), ClearpathGPS (US), Fleetcomplete (Canada), Gurtam (Belarus), Automile (US), VIA (Israel), Fleetroot (UAE), Ruptela (Lithuania), Freeway Fleet (UK).

These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Fleet Management Market.

Recent Developments

In January 2024, MoveEV, an AI-powered EV transition platform, partnered with Geotab. The collaboration integrates MoveEV’s flagship product, ReimburseEV, into the Geotab Marketplace, marking a significant step in advancing sustainable fleet management.In September 2023, Trimble partnered with transportation solution provider Next Generation Logistics to make its Engage Lane solution available to their base of shippers through the Transportation Cloud.In December 2022, Donlen and LeasePlan partnered to enhance the offering of fleet management and mobility solutions in the North American fleet market.In August 2021, Bridgestone acquired Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform from Sumeru Equity Partners, Danlaw, Inc., and other shareholders. The acquisition accelerates Bridgestone’s efforts to develop and deploy a comprehensive fleet management solution as a central pillar of the company’s advanced mobility strategy.

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Fleet Management Market Advantages:

Fleet management solutions reduce operating costs and boost operational efficiency by optimising fuel use, vehicle maintenance, and route planning.

Fleet safety is increased overall when drivers behave better, have fewer accidents, and follow safety procedures thanks to real-time surveillance and monitoring features.

Fleet owners have lower operating costs and more profitability as a result of effective resource allocation, scheduled preventive maintenance, and fuel management.

With the monitoring of vehicle usage, idle time, and downtime, fleet management systems maximise fleet productivity through asset utilisation optimisation.

By keeping an eye on driver hours, vehicle emissions, and compliance with transportation laws, fleet management systems assist in ensuring regulatory compliance.

Better customer service is made possible by increased fleet operations visibility and transparency, which includes precise delivery tracking and prompt notifications.

Fleet management solutions use data analytics to deliver actionable insights that support wise decision-making and ongoing fleet operation improvement.

Fleet management solutions ensure flexibility and support for future growth by being scalable and adaptable to the needs of fleets of all sizes, from small businesses to huge corporations.

Report Objectives

To determine, segment, and forecast the Fleet Management Market by component, fleet type, vertical, and region in terms of valueTo forecast the size of the market segments concerning 5 main areas: North America, Europe, Asia Pacific, Middle East Africa, and Latin AmericaTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the marketTo study the complete value chain and related industry segments and perform a value chain analysis of the market landscapeTo strategically analyze the macro and micro-markets concerning individual growth trends, prospects, and contributions to the total marketTo analyze the industry trends, pricing data, patents, and innovations related to the marketTo analyze the opportunities for stakeholders by identifying the high-growth segments of the marketTo profile the key players in the market and comprehensively analyze their market share/ranking and core competenciesTo track and analyze competitive developments, such as mergers and acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and R&D activities

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Algorized and ZHAW School of Engineering Launch Research on Predicting Human Movement Around Collaborative Robots, funded by InnoSuisse

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53 minutes ago

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October 20, 2026

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A two-year program studies how sensor fusion enhances human presence detection and safe human-machine interaction.

ETOY, Switzerland, Oct. 20, 2026 /PRNewswire/ — Robots working beside people need a reliable estimate of human movement. Their controllers also need to know how far they can trust that estimate. Algorized and ZHAW Zurich University of Applied Sciences Institute of Signal Processing and Wireless Communications ISC have launched a two-year research program to study both questions. The collaboration is funded by InnoSuisse.

The program, “Real-Time Human Perception via Edge-AI Wireless Sensor Fusion for Collaborative Robotics”, runs from September 2026 for two years. It builds on earlier research by Algorized and ISC on ultra-wideband (UWB) radar.

The program aims to combine raw wireless and optical signals in one fusion layer between a robot’s sensors and its controller. Researchers aim to weight each input by confidence and produce a calibrated estimate of a person’s position and predicted path.

Algorized processes raw data with one foundation model to detect human presence and classify whether it is a human or an object. The program tests whether combining raw inputs in sensor fusion, before each sensor makes its own decision, creates a holistic layer for the human-aware machines.

Each sensor type adds different information. UWB radar and Wi-Fi sensing can help detect a person behind a shelf or a machine. Millimeter-wave radar holds its lock through dust, steam, glare and darkness. RGB and time-of-flight cameras add spatial and semantic detail. The program studies how these inputs work together.

The research has four goals. The first three are to sense people in approach to the robot, tell living from non-living objects, and track and predict each person’s path. The fourth is to send the robot controller a graded instruction: continue, slow down, or stop. The inference target is under 100 milliseconds on standard industrial edge hardware. Algorized’s planned safety functions cover presence detection, localization and tracking.

A model of this kind needs its own training data. That data must come from real facilities with people moving through them. Researchers who understand the physics must interpret it. The goal is a core model that transfers across sensor types, vendors and sites without retraining for each deployment.

“Machines enter the physical world,” said Natalya Lopareva, CEO and Founder of Algorized. “For robots to coexist with humans, they need to understand the people around them. We are exploring every sensor and every layer of compute to make shared spaces safe. That takes research, and we are doing it together with the ISC at the ZHAW School of Engineering.”

“The program brings ISC sensing research into real industrial sites. Researchers will combine radar, Wi-Fi, and optical signals to distinguish approaching people from other objects and then estimate the person’s position and movement. The program investigates how the reliability of this estimation can be measured and how to predict where a person will go next,” said Marc Kuhn, Deputy Head of ISC at the ZHAW School of Engineering.

About Algorized

Algorized builds the edge-native nervous system for Physical AI. Its foundation model senses human presence, vital signs, and intent through occlusion – delivering real-time human-aware perception from standard wireless sensors, where cameras and light-based systems go blind. Backed by the Amazon Industrial Innovation Fund and rooted in four years of Swiss sensing research, Algorized partners with silicon manufacturers and industrial OEMs across robotics, automotive, and smart spaces. Learn more at www.algorized.com.

About the ZHAW School of Engineering

The School of Engineering is one of eight schools of the ZHAW Zurich University of Applied Sciences. With 14 institutes and centres, the ZHAW School of Engineering is one of Switzerland’s leading institutions for technical education and research. It provides high-quality degree programmes and continuing education and develops innovative solutions for industry, focusing on the areas of energy, mobility, information and health.

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Yoodli Named 2026 Inc. Power Partner for Helping Enterprise Teams Build Skills That Show Up on the Job

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53 minutes ago

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October 20, 2026

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Recognition follows a year in which Yoodli customers including Google and Intuit earned 11 Brandon Hall Group awards for programs built on Yoodli

SEATTLE, Oct. 20, 2026 /PRNewswire/ — Yoodli, the AI Platform for Human Skills, has been named a winner of the 2026 Inc. Power Partner Awards, which recognize the B2B companies that entrepreneurs and businesses rely on to grow.

Inc. selected this year’s honorees for a proven track record of helping companies build and scale, across areas from hiring and compliance to technology, fundraising, and marketing.

“Business owners have no shortage of tools at their disposal, and B2B companies need to make clear why their products and services are worth the investment,” says Bonny Ghosh, editorial director at Inc. “The companies on this year’s Power Partners list have done just that. They don’t just have customers, they have superfans and evangelists. Across industries like marketing, financial services, and technology, they’ve proved their dedication to helping fellow business owners grow and succeed.”

“The best validation we get isn’t an award for Yoodli. It’s watching our customers’ teams get recognized for the work they do with us,” said Varun Puri, co-founder and CEO of Yoodli. “Organizations are under real pressure to get their people ready for an AI-first world, and practice alone doesn’t get them there. Our job is to help skills carry over into the moments that matter, and to show leaders the results.”

“Being a Power Partner means our customers’ results are the scoreboard,” said Mike Rich, head of partnerships at Yoodli. “We work alongside training firms, consultancies, and enablement leaders who build skills programs for their own clients. Together we create immersive training experiences and demonstrate measurable outcomes.”

“Every training company says their program works. The hard part is proving it,” said Jeff Bittner, senior director of digital and AI at Braintrust and a member of Yoodli’s Customer Advisory Board. “In two and a half years with Yoodli, we’ve mastered it. Every seller starts with a baseline and a personal record to beat, allowing us to coach the cause instead of the symptom. We’ve seen enterprise clients with hundreds of users adopt at 96%, and others increase their connection level from 22% to 67% in three months. That’s what a real partner does. We make our clients better by providing tools that move the needle.”

Yoodli was recognized for the measurable outcomes its customers have achieved in 2026. Google’s GBOedu Commercial Enablement team won seven awards at the 2026 Brandon Hall Group HCM Excellence Awards (three gold, three silver, one bronze) for scaling AI roleplay practice across its sellers with Yoodli. Intuit’s Global Sales Enablement team earned four Brandon Hall Group awards for programs powered by Yoodli, including gold in Learning & Development Strategy and in Leadership Development.

The company also reached several milestones this year. Yoodli was named to TIME’s Best Inventions of 2026 in the Education category and to LinkedIn’s 2026 Top Startups list for Seattle. It grew past 100 employees and moved into a new headquarters at Pier 70 on the Seattle waterfront. Organizations including Google, Snowflake, Databricks, and Intuit use Yoodli to coach, train, and measure skills across their workforce.

For more information on Inc.’s Power Partner Awards or to view the complete list of honorees, visit inc.com/power-partner-awards.

About Yoodli

Yoodli is the AI Platform for Human Skills. Through AI coaching, learning journey creation, roleplays, personas, and measurement, Yoodli helps people get measurably better in their careers and helps organizations upskill their workforce for an AI-first world. Proven in high-stakes revenue teams and built for company-wide scale, Yoodli is used by organizations including Google, Snowflake, Databricks, and Intuit. Learn more at yoodli.ai.

Media Contact:
Sage Quiamno
press@yoodli.ai
+1 (808) 232-1321

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RBC tops JD Power Retail Banking Satisfaction Study among Big Five banks for third consecutive year

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October 20, 2026

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TORONTO, Oct. 20, 2026 /CNW/ — RBC is pleased to be named Highest in Customer Satisfaction Among the Big Five Retail Banks by JD Power for the third year in a row, and the fourth time in five years. The recognition stems from the JD Power 2026 Canada Retail Banking Satisfaction StudySM, which gathers feedback from thousands of retail banking customers nationwide.

“The trust clients place in us reveals itself in moments big and small, and this study captures that,” said Erica Nielsen, Group Head, Personal Banking, RBC. “We are grateful to our clients who continue to choose RBC, and this award belongs to the employees who show up for them with care and expertise.”

RBC earned an Overall Satisfaction score of 619, finishing nine points ahead of the Big Five average of 610 and holding the number one position among the Big Five across all seven dimensions measured in the study, including Digital Channels and Problem Resolution. The bank’s eight-point improvement outpaced the industry average gain. RBC stands out most in Level of Trust, Account Offerings meeting my needs, and Allowing me to bank how and when I want, where it holds significant leads over the average.

The study also points to continued momentum, with RBC building on its strengths in Digital Channels and Account Offerings, along with improvements in Online Chat, New Account Opening, Product/Fees, and Convenience.

“We keep the client at the centre of everything we do, and that focus is reflected in the areas where we are leading. Whether someone is opening an account online, chatting with us through our digital channels, or sitting down with an advisor, we look across every part of RBC to make sure each experience is built around them. I want to thank our teams across the country for making that commitment felt every day.”

The JD Power 2026 Canada Retail Banking Satisfaction Study drew on responses from 14,038 retail banking customers surveyed in two waves between January and February and between July and August 2026.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 105,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.

For more information, please contact:
Habiba Ahmad, RBC Communications, 437-993-3245

SOURCE RBC Royal Bank

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